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Well as we said markets rallying on strong economic news -- yes and I says investors looking deeper into the message from the Fed.
The economy getting better here with his outlook for -- Jim Gardner he's chief investment officer for PNC wealth management Jim good to have you here thank you Lou I had I had to almost -- -- the market that.
There was a volumes.
There was exuberance.
And and appropriately so in my January effect.
What we saw very strong set of data today you looking at durable goods and new housing sales housing pricing.
All suggesting that the act economy continues to improve here which is what the Fed tried to communicate last week they see improving fundamentals.
They speak improving fundamentals and then they started blather.
In fed officials from -- -- turned out to offered his.
I was gonna say and hers but you yellen did not actually do participate in the solutions.
This thread is been very clear about its metric six and a half percent unemployment.
They wanna see the inflation.
This is this is an economy that's robust why is everybody getting crazy over the -- here but -- all of a sudden nearly got to this point which I don't understand -- -- good news is bad news and I was but good news is good news if some investors get really stupid it's called in I love the expression and in the UK.
Too clever by -- And investors some of them certainly in some of the running some very large -- -- get carried away.
What are your expectations were gonna get first -- -- at the quarterly GDP second quarter GDP.
The first war.
And I think it was still gonna see you know -- 2% maybe a little.
Less than 2% but we clearly see that the second half the years picking up where in the camp said the second half of -- -- 2.2 percent.
In improving into 2014.
But we are no doubt on the boundaries.
Of a transition in the economy so employment what unemployment will pick up.
Unemployment rate will come down seven point 2% we think by the end of the year -- things are improving.
And -- and that will be a tail win at the end of the day for equity.
That's the next revision in the first quarter GDP as its second quarter GDP.
And of course we're not quite there so excited about the second quarter up -- a lot of moved of that.
-- your outlook for the market over the next few months here through some.
But I think we probably -- here for awhile as we go through this rotation.
This inflection point how good things are getting.
On and then I think we probably can see some within that range of new highs by the end of the year -- early 2014 but there's no doubt that I don't think this correction is over.
We could probably see a couple percent low before we grind our way back up but the important things become -- -- second quarter earnings.
Will be the the highlight that we're looking for particularly improvement in Renton -- home.
John donegan PNC wealth than -- -- right thanks Lou but now.
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